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granite city food & brewery (GCFB) Details

Granite City Food & Brewery Ltd. operates casual dining restaurants in the United States. The company’s restaurants include the Granite City Food & Brewery restaurant with an upscale casual dining theme that offers various menu items and hand-crafted beers; and the Cadillac Ranch All American Bar & Grill restaurant, which offers a selection of classic American cuisine with regional favorites at each location. As of March 11, 2014, it operated 30 Granite City restaurants in 13 states; and 5 Cadillac Ranch restaurants in 16 states. The company was founded in 1997 and is headquartered in Minneapolis, Minnesota. Granite City Food & Brewery Ltd. is a subsidiary of Concept Development Partners LLC.

granite city food & brewery (GCFB) Key Developments

Granite City Food & Brewery Ltd. announced preliminary unaudited financial results for the fiscal year ended December 30, 2014. For the year, the company reported net revenue increased to $136 million compared to $134 million for fiscal year 2013. Adjusted EBITDA increased to approximately $10 million compared to $8 million for fiscal year 2013. Net loss was $2,571,496 compared to $3,449,940 a year ago. Consolidated same-store sales, excluding the downtown Indianapolis non-restaurant location, increased 0.7% in fiscal year 2014.

Granite City Mulls Strategic Options

Feb 16 15

Granite City Food & Brewery Ltd. (OTCPK:GCFB) intends to look for possible strategic transaction. The Company has engaged Houlihan Lokey Capital, Inc. to assist it in exploring a possible strategic transaction. Such a transaction may take the form of a sale, disposition, merger or other transaction involving all or a substantial portion of the business, assets or equity interests of the company. Under the engagement agreement, Houlihan’s services may include soliciting, coordinating, and evaluating indications of interest and proposals regarding a possible strategic transaction, and assisting the Board in negotiating financial aspects of a possible strategic transaction.

Granite City Food & Brewery Launches New Restaurant Called Pub 42 in New Hope

Feb 10 14

Granite City Food & Brewery announced that it has launched a new restaurant called Pub 42 in New Hope. The building, located at 7600 N. 42nd Ave. Pub 42 initially operated only in the bar portion of the restaurant, while making major renovations to the more formal dining room. The full 10,000-square-foot restaurant, which seats approximately 360 people, opened on February 7, 2014. Pub 42 has ramped up to a staff of 65 people and an equal number of menu items, including burgers, sandwiches, salads, flatbreads and dinner entrees such as steaks, salmon, pork chops and pasta. All of the food is made from scratch, like at Granite City. Prices range from $6 for an appetizer to $28 for the filet mignon. The restaurant currently has 23 beers on tap and plans to add seven more in the coming weeks. In addition to totally renovating the dining room, which is referred to as a 'tired supper club', Pub 42 also installed a wrap-around bar, a new sound system and some brick on the exterior of the building. It will make some upgrades to the large outdoor deck this spring.

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